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2020-07-31-accounts

REGISTERED COMPANY NUMBER: 08833424 (England and Wales) REGISTERED CHARITY NUMBER: 1156317

TRUSTEES' REPORT AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2020

FOR

ASSEMBLIES OF THE FIRST BORN

Leroy Reid & Co Chartered Certified Accountants and Statutory Auditors 299 Northborough Road Norbury London SW16 4TR

ASSEMBLIES OF THE FIRST BORN

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2020

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ASSEMBLIES OF THE FIRST BORN

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST JULY 2020

TRUSTEES

Rev. A Brown Rev. J 1 Green- Wright Mr H E Thomas Rev. E K Vassell Mrs M R Walker (deceased 5.12.20)

COMPANY SECRETARY

Rev. E K Vassell

REGISTERED OFFICE

REGISTERED COMPANY NUMBER

St Stephens Church Battersea Bridge Road London SW113AP 08833424 (England and Wales)

REGISTERED CHARITY NUMBER

1156317

AUDITORS

Leroy Reid & Co Chartered Certified Accountants and Statutory Auditors 299 Northborough Road Norbury London SW16 4TR

Page |

ASSEMBLIES OF THE FIRST BORN

TRUSTEES' REPORT FOR THE YEAR ENDED 31ST JULY 2020

The Board of Trustees has pleasure in reporting on the Financial Statements for the year ended 31 July 2020. The trustees who are also the directors of the charity for the purposes of the Companies Act 2006. The financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

We are thankful to God for allowing us to provide Christian and other charitable services by working together with our local church branches, individual members and their families, fellowship churches, friends, and the local community at large. We are particularly grateful to our team of volunteers as we deliver services and activities which provides a public benefit to our various stakeholders.

The Charity, Assemblies of the First Born, has fourteen local church branches throughout the UK based in London, Croydon, Luton, Swindon, Bristol, Birmingham, Walsall, Derby, and Nottingham, one London based fellowship church and three international partner churches in the USA, two based in New York and one based in Florida. We have been established since 1961 years in the UK. This has been a financially challenging year in terms of supporting our community outreach activities, our members and maintaining our church properties due to an ongoing legal dispute with one of our local church branches which we are working to resolve and the emerging Covid-19 pandemic. However, we remain confident that we will continue to achieve our aims and objectives.

OBJECTIVES AND ACTIVITIES

Objectives and aims

Our charitable purpose is to advance the Christian faith, according to the doctrines of the Assemblies of the First Born Church and includes the prevention or relief of poverty and the advancement of education.

The Assemblies of the First Born Church is committed to reaching out to as many people as possible with the message of the good news of the Gospel of Jesus Christ and to help people discover their potential and live a purposeful fulfilling life.

The Church is a member of the Evangelical Alliance, National Council for Voluntary Organisations (NCVO) and the Pentecostal Credit Union.

Page 2

ASSEMBLIES OF THE FIRST BORN

TRUSTEES' REPORT FOR THE YEAR ENDED 31ST JULY 2020

OBJECTIVES AND ACTIVITIES

Public benefit

The Trustees are aware of the Charity Commission's guidelines on public benefit. The work of the Charity and the funds it raises are wholly directed towards furthering the religious aims and objectives of the Charity. The Trustees are therefore of the view that the Charity satisfies the criteria laid down for meeting the public interest test All our activities are focused on providing public benefit (a charitable legal requirement which we have considered) which includes:

  1. Providing places of worship at all our local church branches throughout the UK. Our church services are advertised at our church premises, on our national church website and via our social media pages and open to all members of the public who visit or access our services online and provides weekly services which include: Sunday Service, Sunday School, Prayer Meetings, Bible Studies and Youth Meetings. We hold four Conventions throughout the UK at our church venues each year namely Easter Convention, Youth Convention, General Convention and Women's Convention at locations throughout the UK where members, their families and friends and the general community are invited to attend for worship and fellowship.

  2. Providing baby and children dedications, baptisms, marriage ceremonies and funeral services for the communities we serve.

  3. Undertaking evangelistic, missionary, outreach and support work in Europe, America, Jamaica and India. 4. Providing personal development training opportunities for members, families, friends and the local community and are also fully committed to the safeguarding of vulnerable groups.

  4. Providing volunteers to collect food products from national supermarkets and distribute them to homeless projects and individuals in the community who are in need.

  5. We continue to work with Residential Care and Nursing Homes which we visit to provide singing and prayer service for residents who wish to access these activities and we collect residents (on request) and provide them with free transportation to our Sunday worship services.

  6. We also regularly undertake visits to people who are unwell at home or in hospital on request from members, their families or members of the community.

Grantmaking

The Charity does not make any significant grants to individuals or other organisations. The Charity does however assist or make contributions to other associated churches in Jamaica, India and the USA.

The Charity at the discretion of the trustees provides financial assistance to members of the church who are experiencing severe hardship especially during a time of family bereavement.

Volunteers

The Church relies extensively on the use of volunteers in various roles and offices. Their sacrificial giving and selfless devotion to service is very much appreciated as it is their contribution that has seen the Church this far.

FINANCIAL REVIEW

Financial position

The total incoming resources for the year was £329,024 (2019 - £344,597) and total resources expended was £346,138 (2019 - £326,334) reporting a deficit of £17,114 when compared to a surplus of £18,263 in the previous year.

We will be undertaking a review of our income and expenditure as part of our overall medium term strategy with a particular emphasis on fundraising strategies and expenses reduction with a view to eliminate the deficit and return the charity to a strong financial position.

Page 3

ASSEMBLIES OF THE FIRST BORN FOR THETRUSTEES'YEAR ENDEDREPORT31ST JULY 2020

FINANCIAL REVIEW

Reserves policy

It is the policy of the Board to maintain a balance of unrestricted funds, which is equal to six months of unrestricted payments. This is reviewed every quarter to ensure that it is relevant to the Charity's financial needs. The Trustees consider that reserves at this level will ensure that in the event of a significant reduction in income they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be identified. This level of reserve has been maintained throughout the year.

The Charity's reserves as at the year-end 31 July 2020 was £3,841,205 (2019 - £3,858,319).

FUTURE PLANS

The charitable company has referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing its aims and objectives and in planning future activitics.

The Assemblies of the First Born Church is committed to improve its ability to spread the good news of the gospel of Jesus Christ. Next year we will celebrate our 60th anniversary and we are planning to run events through the year and produce a documentary of the stories of our members who arrived on the UK as part of the Windrush generation.

We have the following two ongoing strategic objectives:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee which was incorporated on the 6th January 2014, as defined by the Companies Act 2006.

The old charity formerly known as Assemblies of the First Born , charity no. 258457 was converted into a Scheme under the guidance of The Charity Commission on 16th October 2014, whereby the old charity has been removed and re-established as Assemblies of the First Born Property Charity and linked to the principal Charity using charity no. 1156317-01. For the purposes of Part II (registration) and Part VI (accounting) of the Charities Act 2011, the Commission directs that the charity as at the date of this Scheme shall be treated as forming part of the Company. Under this Scheme all 10 ten properties listed in the schedule prepared by the Charity Commission is transferred by this Scheme to the Company as Trustees to be held in trust for the object of the Charity .

Related parties

The trustees are aware that each member of the Board of trustees, the executive board members, all ordained ministers and their spouses are considered to be related parties.

During the year under review there were no material related party transaction, however there is ongoing discussion with a pastor regarding security of a loan secured against his property. The charity as sought permission from the Charity Commission for the transfer of a loan.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Board conducts a review of major risks to which the Charity is exposed and has put in place adequate guidelines and procedures for identifying, monitoring and management of those risks to which the Charity is exposed to on an ongoing basis

Page 4

ASSEMBLIES OF THE FIRST BORN

TRUSTEES' REPORT FOR THE YEAR ENDED 31ST JULY 2020

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Assemblies of the First Born for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the charitable company's auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make them aware of any audit information and to establish that the charitable company's auditors are aware of that information.

AUDITORS

The auditors, Leroy Reid & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 22"? August 2022 and signed on its behalf by:

(9 G ©€14.,,& / Bishop Jennifer Green-Wright Trustee

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ASSEMBLIES OF THE FIRST BORN

Opinion

We have audited the financial statements of Assemblies of the First Born (the ‘charitable company’) for the year ended 31st July 2020 which comprise the Statement of financial activities, the Statement of financial position, the Statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

In our opinion the financial statements:

Basis for disclaimer of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. In seeking to form an opinion on the financial statements we consider the implications of the Limitation of Scope in the following areas:

!, The Limitation of Scope on the previous year's audit remains with respect to the opening balances and comparative figures. We are unable to state objectively on the true and fair view.

  1. The ongoing dispute with a Local assembly and its impact on the finances of the charity is still not clear,

  2. Due to inadequate returns from a number of assemblies, we are unable to confirm that satisfactory policies and procedures are in operation throughout the charity and that adequate accounting records are maintained.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

An overview of the scope of our audit

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the entity’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by those charged with governance; and the overall presentation of the financial statements.

In addition, if we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ASSEMBLIES OF THE FIRST BORN

The risks of material misstatement, are those risks that, in our professional judgement, had the greatest effect on: the overall audit strategy; the allocation of resources in our audit; and directing the efforts of the engagement team. Our audit procedures relating to these risks were designed in the context and solely for the purposes of our audit of the financial statements as a whole. Any findings with respect to these risks are therefore limited by the scope of our audit and are incidental to our opinion on the financial statements as a whole. We do not express discrete opinions on individual risks or the separate elements of the financial statements to which these individual risks relate. Our opinion on the financial statements is not modified with respect to any of these risks.

Matcriality is a term used to describe the acceptable level of precision in financial statements. We identify a monetary amount of ‘materiality for the financial statements as a whole’ based on our judgement as to the quantitative amount of a misstatement or an omission that could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. The concept of materiality is applied both in planning and performing the audit, and in evaluating the effect of identified misstatements on the audit and of uncorrected misstatements, if any, on the financial statements and in forming the opinion in our report.

When planning and performing the audit, materiality is used in evaluating the risk of material misstatement for each financial statement caption, and therefore the extent and persuasiveness of audit evidence required by us. In turn, materiality will also define the level of precision applied to individual audit procedures.

When evaluating the effect of identified misstatements on the audit, and of uncorrected misstatements on the financial statements, we request that misstatements are corrected and then apply judgement in identifying whether an uncorrected misstatement or omission is material. To do so we make reference to the monetary amount of ‘materiality for the financial statements as a whole’ determined when planning the audit. The materiality determined when planning the audit does not necessarily establish an amount below which uncorrected misstatements, individually or in the aggregate, will always be evaluated as immaterial. We also consider the impact of misstatements on individual account balances or classes of transaction.

Whilst the audit process is designed to provide reasonable assurance of identifying material misstatements or omissions it is not guaranteed to do so. Rather we plan the audit to determine the extent of testing needed to reduce to an appropriately low level the probability that the aggregate of uncorrected and undetected misstatements does not exceed materiality for the financial statements as a whole. This testing requires us to conduct significant depth of work on a broad range of assets, liabilities, income and expenses as well as devoting significant time of the most experienced members of the audit team, in particular the person with final responsibility for the audit and for our report, to subjective areas of the accounting and reporting process.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Report of the independent auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial] statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF ASSEMBLIES OF THE FIRST BORN

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of trustees' responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the independent auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Ko[oA][ pw] t

Ebenezer Okai (Senior Statutory Auditor) for and on behalf of Leroy Reid & Co Chartered Certified Accountants and Statutory Auditors 299 Northborough Road Norbury London SW164TR

Date: August 22, 2022

Page 8

ASSEMBLIES OF THE FIRST BORN

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2020

2020 2019
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 232,698 276,691
Investment income 3 96,327 67,906
Total 329,025 344,597
EXPENDITURE ON
Charitable activities 4
Church 346,539 326,334
Other (400) -
Total 346,139 326,334
NET INCOME/EXPENDITURE) (17,114) 18,263
RECONCILIATION OFFUNDS
Total funds brought forward 3,858,319 3,840,056
TOTALFUNDSCARRIEDFORWARD 3,841,205 3,858,319

The notes form part of these financial statements

Page 9

ASSEMBLIES OF THE FIRST BORN

STATEMENT OF FINANCIAL POSITION

31ST JULY 2020

2020 2019
Unrestricted Total
fund funds
Notes £ =
FIXED ASSETS
Tangible assets 11 4,223,801 4,238,595
CURRENT ASSETS
Debtors 12 16,627 18,871
Cash atbank 285,859 249,922
302,486 268,793
CREDITORS
Amounts fallingdue within one year 13 (78,358) (62,375)
NETCURRENT ASSETS 224,128 206,418
TOTAL ASSETS LESS CURRENT
LIABILITIES 4,447,929 4,445,013
CREDITORS
Amounts fallingdue aftermore than oneyear 14 (606,724) (586,694)
NETASSETS 3,841,205 3,858,319
FUNDS 16
Unrestricted funds 3,841,205 3,858,319
TOTALFUNDS 3,841,205 3,858,319

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 22"? August 2022 and were signed on its behalf by:

MrHESamo Trustee

The notes form part of these financial statements

Page 10

ASSEMBLIES OF THE FIRST BORN

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST JULY 2020

2020 2019
Notes £ £
Cash flows from operating activities
Cashgenerated from operations l 41,438 165,693
Interest paid (26,658) (39,301)
Net cash provided by operating activities 14,780 126,392
Cash flows from investing activities
Purchase oftangible fixed assets - (20,513)
Sale oftangible fixed assets 1,069 892
Interest received 56 1,140
Netcashprovided by/({used in) investing activities 1,125 (18,481)
Cash flows from financing activities
New loans in year 50,000 -
Loan repayments inyear (29,968) (124,810)
Net cash provided by/(used in) financing activities 20,032 (124,810)
Change in cash and cash equivalents in
the reporting period 35,937 (16,899)
Cash and cash equivalents at the
beginning ofthe reporting period 249,922 266,821
Cash and cash equivalents at the end of
thereportingperiod 285,859 249,922

The notes form part of these financial statements

Page 11

ASSEMBLIES OF THE FIRST BORN

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST JULY 2020

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
2020 2019
£ £
Net(expenditure)/income for the reporting period (as per the
Statement offinancial activities) (17,114) 18,263
Adjustments for:
Depreciation charges 14,125 25,768
Profiton disposal offixed assets (400) -
Interest received (56) (1,140)
Interest paid 26,658 39,301
Decrease in debtors 2,242 48,349
Increase in creditors 15,983 35,152
Netcashprovidedbyoperations 41,438 165,693
  1. ANALYSIS OF CHANGES IN NET DEBT
At 1.8.19 Cash flow At 31.7.20
£ £ £
Net cash
Cash atbank 249,922 35,937, 285,859
249,922 35,937 285,859
Debt
Debts fallingdue after 1 year (386,694) (20,030) (606,724)
(586,694) (20,030) (606,724)
Total (336,772) 15,907 (320,865)

Total

The notes form part of these financial statements

Page 12

ASSEMBLIES OF THE FIRST BORN

  1. ACCOUNTING POLICIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2020

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate al] cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance Motor vehicles - 20% on reducing balance Computer equipment - 25% on reducing balance

TAXATION

The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2i DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
2020 2019
£ £
Tithes and offerings 183,461 260,901
Gift aid 49,237 15,790
232,698 276,691

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ASSEMBLIES OF THE FIRST BORN

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST JULY 2020

3; INVESTMENT INCOME
2020 2019
£ £
Rents received 96,271 66,766
Deposit account interest 56 1,140
96,327 67,906
4. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 5) note 6) Totals
£ £ .
Church 205,793 140,745 346,538
5. DIRECTCOSTS OF CHARITABLE ACTIVITIES
2020 2019
£ £
Rates andwater 4,855 7,051
Insurance 20,454 21,534
Light and heat 51,647 50,929
Telephone 6,454 7,366
Postage and stationery 2,426 5,017
Sundry expenses 6,102 4,661
Hire ofhall 9,050 7,501
Media communications - 360
Convention expenses 2,623 7,425
Gifts and donations 13,535 20,434
Motorand travel expenses 9,839 25,205
Catering and hospitality 3,897 7,648
Cleaning and laundry 5,500 2,642
Floral arrangements - 50
Subscriptions 3,432 2,645
Training and support 452 704
Administration costs - 6,000
Premises maintenance cost 43,749 29,950
Small equipment purchases 3,249 4,176
Youth Forum expenses 3,000 3,454
Fines and penalties 1,400 -
Depreciation 14,125 25,662
205,789 240,414

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ASSEMBLIES OF THE FIRST BORN

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2020

6. SUPPORT COSTS

6. SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Church 26,658 114,092 140,750
Support costs, included in the above, are as follows:
2020 2019
Total
Church activities
£ £
Interest payable and similar charges 26,658 39,301
Trustees' remuneration etc 14,400 14,400
Wages 7,488 7,286
Legal and professional fees 82,604 12,010
Auditfees 9,600 12,923
140,750 85,920
7, NET INCOME EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2020 2019
£ £
Depreciation - owned assets 14,125 25,662
Surplus on disposal offixed assets (400) -
8. TRUSTEES' REMUNERATION AND BENEFITS
2020 2019
£ £
Trustees'salaries 14,400 14,400

TRUSTEES' EXPENSES

There were no trustees’ expenses paid for the year ended 31st July 2020 nor for the year ended 31st July 2019.

  1. STAFF COSTS
STAFF COSTS
2020 2019
£ £
Wages and salaries 21,888 21,686
21,888 21,686
The average monthlynumber ofemployees during the yearwas as follows:
2020 2019
GeneralOverseerandAdministrator 2 2

No employees received emoluments in excess of £60,000.

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ASSEMBLIES OF THE FIRST BORN

  1. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST JULY 2020

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 276,691
Investment income 67,906
Total 344,597
EXPENDITURE ON
Charitable activities
Church 326,334
NET INCOME 18,263
RECONCILIATION OF FUNDS
Total funds brought forward 3,840,056
TOTAL FUNDSCARRIED FORWARD 3,858,319
11. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£ £ £ £ 4
COST
At IstAugust2019 4,162,564 223,625 96,080 14,679 4,496,948
Disposals - - (4,500) - (4,500)
At 31st July 2020 4,162,564 223,625 91,580 14,679 4,492,448
DEPRECIATION
At IstAugust2019 . 173,091 72,210 13,052 258,353
Charge foryear - 7,384 5,800 941 14,125
Eliminated on disposal . - (3,831) - (3,831)
At 31st July 2020 - 180,475 74,179 13,993 268,647
NET BOOKVALUE
At 31stJuly2020 4,162,564 43,150 17,401 686 4,223,801
At31stJuly2019 4,162,564 50,534 23,870 1,627 4,238,595

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ASSEMBLIES OF THE FIRST BORN

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST JULY 2020

12. DEBTORS: AMOUNTS FALLING DUE WITHINONE YEAR
2020 2019
£ £
Otherdebtors 16,627 18,871
13. CREDITORS: AMOUNTS FALLING DUE WITHINONE YEAR
2020 2019
£ £
Barclaycard 1,016 1,588
Other creditors 77,342 60,787
78358 62,375
14. CREDITORS: AMOUNTS FALLING DUE AFTERMORETHAN ONE YEAR
2020 2019
£ £
Bank loans (see note 15) 606,724 586,694
15. LOANS
An analysis ofthe maturity ofloans is given below:
2020 2019
£ £
Amounts falling due between two and five years:
Bank Joans - 2-5 years 606,724 586,694
16. MOVEMENT IN FUNDS
Net
movement At
At 1.8.19 in funds 31.7.20
£ £ £
Unrestricted funds
General fund 3,858,319 (17,114) 3,841,205
TOTAL FUNDS 3,858,319 (17,114) 3,841,205
Netmovement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
= £ £
Unrestricted funds
General fund 329,025 (346,139) (17,114)
TOTALFUNDS 329,025 (346,139) (17,114)

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continued...

ASSEMBLIES OF THE FIRST BORN

  1. MOVEMENT IN FUNDS- continued

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST JULY 2020

Comparatives for movement in funds

----- Start of picture text -----
|||||| |---|---|---|---|---| |Net| |movement|At| |At|1.8.18|in|funds|31.7.19| |£|£|£| |Unrestricted|funds| |General|fund|3,840,056|18,263|3,858,319| |TOTAL FUNDS|3,840,056|18,263|3,858,319|

----- End of picture text -----

Comparative net movement in funds, included in the above are as follows:

----- Start of picture text -----
|||||| |---|---|---|---|---| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|344,597|(326,334)|18,263| |TOTAL FUNDS|344,597|(326,334)|18,263|

----- End of picture text -----

A current year 12 months and prior year 12 months combined position is as follows:

----- Start of picture text -----
|||||| |---|---|---|---|---| |Net| |movement|At| |At|1.8.18|in|funds|31.7.20| |£|£|£| |Unrestricted|funds| |General|fund|3,840,056|1,149|3,841,205| |TOTAL FUNDS|3,840,056|1,149|3,841,205|

----- End of picture text -----

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

----- Start of picture text -----
|||||| |---|---|---|---|---| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|673,622|(672,473)|1,149| |TOTAL FUNDS|673,622|(672,473)|1,149|

----- End of picture text -----

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ASSEMBLIES OF THE FIRST BORN

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST JULY 2020

17. RELATED PARTY DISCLOSURES

During the year the following related party transactions occurred between trustees of the Charity as follows:

  1. Stipend payments were made to the Overseer, Bishop Jennifer Green-Wright for the sum of £14,400 (2019 - £14,400). The basis for these payments were approved by the Board of Trustees of the Charity on 17 January 2017. (See note 8).

  2. Stipend payments to Rev Errol Vassell approved by the trustees for the provision of administration, financial control, internal policies, training and development activities for the sum of £3,600 (2019 - £6,000).

  3. A loan of £5,750 was made to the Charity by Rev. Errol Vassell between January and February 2020. The loan was repaid in full on the 13/03/2020 and 06/04/2020.

  4. A loan of £8,500 was made to the Charity by Mrs Miriam Walker on the 6th March 2020. Mrs Walker, now deceased (5/12/2020) remain outstanding at the year end. The Estate of the late Mrs Walker is now the legal responsible to recover the amount on behalf of the Estate.

  5. Trustees of the Charity made donations between January and May totalling £12,400.

POST BALANCE SHEET EVENTS

At the date of preparing these financial statements the impact of the government mandated lockdown from March 2020 due to the Novel Coronavirus (COVID-19) continues and the effects cannot be reliably estimated,

Despite that fact that the accounts being prepared relates to the period before COVID-19, the trustees have considered the impact on the charity and they believe they have adequate resources and sufficient sources of funds available for the foreseeable future, therefore the trustees believe its appropriate to prepare these accounts on the going concern basis.

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ASSEMBLIES OF THE FIRST BORN

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2020

2020 2019
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Tithes and offerings 183,461 260,901
Gift aid 49,237 15,790
232,698 276,691
Investment income
Rents received 96,271 66,766
Depositaccount interest 56 1,140
96,327 67,906
Total incoming resources 329,025 344,597
EXPENDITURE
Charitable activities
Rates and water 4,855 7,051
Insurance 20,454 21,534
Light andheat 51,647 50,929
Telephone 6,454 7,366
Postage and stationery 2,426 5,017
Sundry expenses 6,102 4,661
Hire ofhall 9,050 7,501
Media communications - 360
Convention expenses 2,623 7,425
Gifts and donations 13.535 20,434
Motor and travel expenses 9,839 25,205
Catering and hospitality 3,897 7,648
Cleaning and laundry 5,500 2,642
Floral arrangements - 50
Subscriptions 3,432 2,645
Training and support 452 704
Administration costs - 6,000
Premises maintenance cost 43,749 29,950
Small equipment purchases 3,249 4,176
Youth Forum expenses 3,000 3,454
Fines and penalties 1,400 -
Depreciation oftangible fixed assets 14,125 25,662
205,789 240,414
Other
Loss on sale oftangible fixed assets (400) .
Support costs
Management
Bankloaninterest 26,658 39,301

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ASSEMBLIES OF THE FIRST BORN

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2020

----- Start of picture text -----
|||||| |---|---|---|---|---| |2020|2019| |£|£| |Management| |Governance|costs| |Trustees’|salaries|14,400|14,400| |Wages|7,488|7,286| |Legal|and professional|fees|82,604|12,010| |Audit|fees|9,600|12,923| |114,092|46,619| |Total|resources|expended|346,139|326,334| |Net (expenditure)/income|(17,114)|18,263|

----- End of picture text -----

This page does not form part of the statutory financial statements

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